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Readers response: What seems too expensive but is really worth the price?

We asked our readers what items or experience seem, too expensive but are really worth the price, and the response was overwhelming. Here's what our audience will always justify the price of. Robbie Kirkwood - Travel insurance. Elizabeth Foster - Business class on long haul flights. Jeanette Wallis - Coffee beans. Mandy O'Connor - A good pair of Levi jeans, and a good pair of boots. Pamela McDonald - I would say electricity! Seems lots complain about the cost until you lose power, then you realise how hard life would be without it. Tess Witchell - Real butter! Three ply toilet rolls, frappe iced coffee from McDonald’s, and proper bakery bread. Sue Yunker - Wine! Michael Schulze - A decent cup of coffee. Suzanne Jones - A holiday. Rose Niemack - Fruits and vegetables. Image credits: Shutterstock

Money & Banking

"Yet another disgrace": Rolf Harris’ net worth revealed

Disgraced TV star Rolf Harris died penniless after wiping out his estimated $31 million fortune, making it difficult for his victims to claim compensation. The convicted pedophile died of neck cancer and old age last year after spending his final years as a recluse with his wife at their luxury $10 million riverside mansion in Bray, Berkshire. Harris – a staple of children’s TV in the 1980s - was convicted of 12 indecent assaults, and managed to overturn only one of his convictions. The vile pedophile was released from prison in 2017. After his death, it was said that he left a $31 million fortune that he amassed during his career to his wife Alwen Hughes and daughter Bindi, 60. However, probate documents seen by The Sun show that his assets were said to be worth just $853,436.98 when he died. When expenses were taken out the net value of his estate was $0. It is believed that most of his fortune was spent to make it difficult for his victims, who were seeking compensation, to access his wealth following his death. A large part of his fortune is believed to have been used on around-the-clock carers for him and his wife Alwen, who died in September this year after suffering from dementia. His legal documents show that his will was last signed in March 2022, a year before his death, and was witnesses by two of his carers. Investigator and ex-detective Mark Williams-Thomas, who helped to convict Harris, said: “This is yet another disgrace. “He has obviously planned to get rid of money and assets and there is no way he’d have actually been penniless. “He had amassed a huge amount of wealth and I would assume he has squirrelled it away to avoid victims making claims on it, even after his death. The man had no shame.” Harris was known for a string of children's TV hits and was the face of British Paints for more than three decades before he was dumped by the brand when he was arrested in 2013. The following year, he was convicted a found guilty on 12 counts of indecent assault, and was sentenced to five years and nine months in jail. The assaults include one on an eight-year-old fan who asked for his autograph, two on girls in their early teens, and a catalogue of abuse against his daughter's friend of over 16 years. He was released on parole in May 2017 after serving three years behind bars. Image: Alan Davidson/ Shutterstock Editorial

Money & Banking

To move or not to move: is it cheaper to find a new place or stay when your rent increases by 10%?

<a href="https://theconversation.com/profiles/park-thaichon-175182">Park Thaichon</a>, <a href="https://theconversation.com/institutions/university-of-southern-queensland-1069">University of Southern Queensland</a> and <a href="https://theconversation.com/profiles/sara-quach-175976">Sara Quach</a>, <a href="https://theconversation.com/institutions/griffith-university-828">Griffith University</a> Your landlord has just raised your rent by 10% and your mind starts running the numbers – should you cop it sweet or look to move? It’s a familiar scenario in today’s unpredictable housing market. Understanding the real costs of staying versus moving is essential for making informed choices: renters must consider hidden expenses such as moving costs, deposits and changing rental rates, giving them tools to handle rising rent pressures more effectively. <h2>A grim time for many renters</h2> National median market rents have hit record highs, reaching $627 per week, with an average annual growth rate of 9.1% during the past three years, according to real estate giant <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_departments/Parliamentary_Library/Budget/reviews/2024-25/Housing#:%7E:text=Based%20on%20April%202024%20CoreLogic,the%20past%203%20calendar%20years">CoreLogic</a>. <a href="https://www.corelogic.com.au/news-research/news/2024/rent-growth-picked-up-in-the-start-of-2024,-taking-rents-to-new-record-highs">CoreLogic</a> also reported annual rental changes (houses and units) in regional Australia are not far off from the big cities: annual rent changes were 9.4% for combined capital cities, 6.4% for combined regional areas, and 8.5% nationally. So, is it better to stay or move if your rent is raised by 10%? Let’s examine the costs and benefits of each option. <h2>A breakdown of typical moving costs</h2> We’ll start with the most obvious expense: moving costs. Professional moving services aren’t cheap. For example, moving a three-bedroom house in the Gold Coast costs <a href="https://www.muval.com.au/removalists/gold-coast">$1,095.25 on average</a>, with an hourly rate of $158.26. In a bigger city like Melbourne, the cost is slightly higher at <a href="https://www.muval.com.au/removalists/melbourne">about $1,118.46</a>. The moving costs between states or cities will be more expensive if you move further away. You could choose to handle packing yourself and hire some help with a truck – a common option with businesses such as “<a href="https://www.gumtree.com.au/s-removals-storage/gold-coast/2+men+and+a+truck/k0c18643l3006035">Two Men and a Truck</a>”, which typically costs around $100 per hour. Be aware, though, that the hourly rate often starts from the moment the truck leaves the company’s warehouse until it returns. Alternatively, you can rent a van for a lower price, such as $87 for a 24-hour <a href="https://www.bunnings.com.au/for-hire-handivan-24hr-first-100kms-inc-_p5470402">Handivan rental at Bunnings</a>. Don’t forget the cost of moving boxes, too: Bunnings’ 52 litre <a href="https://www.bunnings.com.au/bunnings-52l-light-duty-moving-carton_p0517130?srsltid=AfmBOoqCYAWT0P5apPiJpoOLRAIpUCHNi63ztvIZrG5CxCoNOv45G0TV">moving cartons</a> cost $2.66 each. End-of-lease or <a href="https://firstcallhomeservices.com.au/service-menu/bond-exit-end-lease-cleaning/">bond cleaning</a> is another common expense. For a typical three-bedroom property, internal cleaning can range from $365 to $500. If you have pets, or kids who love drawing on the walls, your cleaning costs might be a bit higher. Now, let’s look at utility connection expenses that can catch people by surprise. Cancelling your internet service can be costly if you don’t meet the exit or cancellation policies. With <a href="https://www.telstra.com.au/internet/5g-home-internet">Telstra Home Internet</a>, for example, if you cancel within the first 24 months, you must return your modem within 21 days to avoid a $400 non-return fee. Most providers charge a cancellation fee or require final device repayments, typically ranging from $100 to $500, depending on the remaining contract period. As a renter, it might be wise to choose a no-lock-in contract plan to avoid these fees if you need flexibility. Electricity and gas connection and disconnection fees are usually minor but can add up, often costing about $40 to $60 for <a href="https://www.energyon.com.au/fees-and-charges/">connection and disconnection fees</a> for electricity alone. If your house uses gas for hot water or cooking, you may have to pay additional fees for setting up service. However, there are also non-financial costs, like the time spent searching for a new home, attending inspections, and putting in applications. Moving takes effort and energy for packing, transporting and unpacking. Some people feel emotionally attached to their current home, which can make leaving harder. Older renters <a href="https://www.sciencedirect.com/science/article/abs/pii/S1353829218311304">seem to draw strength</a> from their familiarity with, attachment to, and enjoyment of their place and community. This is something to be considered. Plus, moving can take <a href="https://www.nature.com/articles/s41537-023-00349-w">an emotional toll</a>. <h2>The benefits of not moving</h2> The clear benefit of staying is avoiding the hassle of relocating. Staying means saving on moving expenses and avoiding the time spent searching for a new place, packing and unpacking. This may also save some people from needing to take time off work. Changing and updating an address is also another tedious task that can be avoided by staying. Moving can hit the hip pocket with “after moving costs” that people may not initially consider. For instance, a new location might mean a longer commute. If each trip adds just 15 extra minutes, that could amount to an additional 11 hours per month over 22 workdays. For drivers, increased fuel and parking expenses might also come into play. Is the current or new location closer to a supermarket, hospital, and school? This proximity could be beneficial or detrimental, depending on the surrounding environment and available services. <h2>To move or not to move?</h2> One point to note is that overall, moving costs are likely to be similar between big cities and regional areas if you get moving supplies or rent a van from a large company such as Bunnings. In the end, moving costs will be around $2,000 based on the figures above, and it can be around $800 to $1,000 cheaper if you opt to rent a van instead of using a full-service moving company. Therefore, if the current rent is $600 per week and is about to increase by 10% to $660, the additional cost would be $3,120 per year. So is it cheaper to move or stay when your rent increases by 10%? The answer is moving may save about $1,000 to $2,000, but comes with the hassle and emotional toll of relocation. Staying will be more expensive, but with less hassle and emotional strain. The right choice depends on your situation.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/243155/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/park-thaichon-175182">Park Thaichon</a>, Associate Professor of Marketing, <a href="https://theconversation.com/institutions/university-of-southern-queensland-1069">University of Southern Queensland</a> and <a href="https://theconversation.com/profiles/sara-quach-175976">Sara Quach</a>, Senior Lecturer in Marketing, <a href="https://theconversation.com/institutions/griffith-university-828">Griffith University</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/to-move-or-not-to-move-is-it-cheaper-to-find-a-new-place-or-stay-when-your-rent-increases-by-10-243155">original article</a>.

Money & Banking

Research reveals how long it takes Aussies to save for a holiday

Saving up for a holiday can seem like an overwhelming task, but some destinations are easier to save for than others. According to new research by <a href="http://money.com.au/">money.com.au</a>, nearly a third of travellers - or 31 percent - need on average a year to save for a trip, while 29 percent of Aussies save for up to six months before jetting off. For 18 percent of travellers, it takes more than a year to save for a trip, while just 13 percent of Aussies manage to save for a holiday in less than three months. On the flip side, 7 percent of eager travellers decide to skip saving altogether and cover their holiday expenses fully on a credit card, while just 2 percent opt for a personal loan to fund their trips. Money.com.au's Finance Expert, Sean Callery said of the survey, "Our research also shows that travel is the one expense Australians aren't willing to forgo, no matter their financial goals or income level." "Going into debt for a holiday brings additional costs and risks. It's important to have a plan for clearing the debt as quickly as possible." With these saving trends in mind, the experts have crunched the numbers to estimate how long it would take the average Aussie to save for a trip to the most popular overseas holiday destinations. The saving time for each location was calculated based on a 10 per cent savings rate of the average weekly earnings of $1,923.40 (from ABS data). Two of the quickest destinations to save for are China and Thailand, while other destinations the experts say you can save for in around half a year include New Zealand, Vietnam and Singapore. Image credits: Shutterstock

Travel Tips

Having the ‘right’ friends may hold the secret to building wealth, according to new study on socioeconomic ties

<a href="https://theconversation.com/profiles/brad-cannon-2216202">Brad Cannon</a>, <a href="https://theconversation.com/institutions/binghamton-university-state-university-of-new-york-2252">Binghamton University, State University of New York</a> Having wealthy people in your social network significantly boosts the likelihood that you’ll participate in stock markets and savings plans, according to a new working paper I co-authored. My colleagues and I <a href="https://www.nber.org/system/files/working_papers/w32186/w32186.pdf">recently conducted research</a> on social finance to understand the ways in which social networks affect stock market participation and savings behavior. This is important because a substantial fraction of households in the U.S., particularly <a href="https://www.axios.com/2023/10/18/percentage-americans-own-stock-market-investing">lower-income families, do not own stocks</a>. Given that the total return to the U.S. stock market from 1980 through September 2024 has been over 12,000% – for example, US$1,000 <a href="https://ofdollarsanddata.com/sp500-calculator/">invested in the S&P 500</a> in 1980 would be worth $121,350 today – this creates a disparity in wealth for those who participate relative to those who do not. Understanding why some people invest and others don’t is important for addressing social concerns such as rising inequality. In our study, we looked at <a href="https://academic.oup.com/ej/advance-article/doi/10.1093/ej/ueae074/7720537">social capital</a>, which is a measure of the value that comes from being in a group or having dense social networks. Researchers have found that social capital can have positive impacts on individuals and communities, spurring innovation, <a href="https://www.nature.com/articles/s41586-022-04996-4">economic prosperity</a> and better health outcomes. We used friendship data from Facebook to measure different aspects of social networks by county in the U.S. We combined this data with tax information from the Internal Revenue Service about investments and savings. We found that in counties where friendships with prosperous individuals are more common, investment and savings tend to be higher. Moreover, we found that having these friendships with wealthy individuals plays a more important role in shaping financial behaviors than two other aspects of social capital we looked at in our study: having a tight group of friends and living in a community with strong civic engagement. Of course, making wealthy friends alone does not guarantee you’ll invest or save more. But perhaps knowing people who invest makes it less daunting and fraught, particularly if those friends can serve as a resource and sounding board. “Friends with Benefits: Social Capital and Household Financial Behavior” was co-authored by <a href="https://www.marshall.usc.edu/personnel/david-hirshleifer">David Hirshleifer</a> and <a href="https://hankamer.baylor.edu/person/joshua-thornton">Joshua Thornton</a>.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/239370/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/brad-cannon-2216202">Brad Cannon</a>, Assistant Professor of Finance, <a href="https://theconversation.com/institutions/binghamton-university-state-university-of-new-york-2252">Binghamton University, State University of New York</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/having-the-right-friends-may-hold-the-secret-to-building-wealth-according-to-new-study-on-socioeconomic-ties-239370">original article</a>.

Money & Banking

Baggage handler calls out crucial mistake at bag-drop

A ramp agent for a major airline has revealed one crucial mistake that many people make when checking their luggage before they fly. Sharing all the details of the little-known trick on a lengthy Reddit thread, the baggage handler, who has years of experience working with American Airlines, noted an extra step that many people miss to ensure the safe arrival of their bags. "Your bag tag has three 'bingo' stickers with your itinerary on them. Take one off and stick it on your suitcase," the airline worker shared. "This way, even if the bag tag gets torn off at some point, we can still get it to its destination." The stickers look like small barcodes at the very end of the long luggage tag and can simply be pulled off and placed anywhere else on the suitcase. It can also be a good idea to keep one of these small tickets with you, whether on your boarding pass (in an area that doesn’t restrict important information), or simply on an old receipt. That way if your luggage unfortunately goes missing, you have the right barcode and number for your bags to be easily located, wherever they may be. Another thing the baggage handler mentions is the location of the luggage tag. While many signs indicate it should be placed around the side handle (if your case has one), the staff member suggests the top handle is better. "Having the tag on the top handle, which is the one that faces outward on the cart, makes it more likely for mistakes to be caught," he points out. Image credits: Shutterstock

Travel Tips

Borrowing money isn’t always a bad thing – debt can be a sensible way to build wealth

<a href="https://theconversation.com/profiles/bomikazi-zeka-680577">Bomikazi Zeka</a>, <a href="https://theconversation.com/institutions/university-of-canberra-865">University of Canberra</a> Debt, in some form or another, is part of our financial profiles whether we like it or not. And it can be a useful way to build wealth if it is managed carefully and wisely. For example, you may borrow money from the bank to buy an asset – a resource of economic value that generates income from its productive use. Investment property is an example. So investing in an income-producing property can be a good idea. If you are already in the property market, the home equity you’ve accumulated – the share of the property value that’s yours – can help you buy a second property. This time, you may not need a deposit as big as the initial investment. In the event that the rental market is booming and your tenants pay you more than what you repay on the loan, municipal rates and property manager fees, then the wealth-building machine will start to run itself. But debt makes many people uncomfortable. In South Africa, a person earning R20,000 a month commits on average <a href="https://businesstech.co.za/news/finance/585372/south-africas-middle-class-is-in-serious-trouble-right-now/">63% of their salary to repaying unsecured debt</a> – such as credit cards, personal loans, overdrafts or “buy now, pay later” facilities. As a general guideline, it’s suggested that <a href="https://www.investopedia.com/terms/d/dti.asp">no more than 40%</a> of your income should be used to service debt. Financial anxiety has its roots in some misconceptions. The main one is that all debt is bad. This isn’t true. Prudent borrowing to buy an asset can help build wealth in the medium to long term. So fears about debt need to be weighed against a broader understanding of wealth accumulation. Well-managed debt can play a role in that process. Here are the four biggest misconceptions about debt. Recognising them will help you develop a more nuanced approach to debt. <h2>The misconceptions</h2> All debt is bad debt. Indeed, debt is a problem when you can no longer manage it and it starts to manage you. One of the simplest ways to tell whether debt is working for you or against you is through “leveraging”. This refers to the use of debt to acquire an asset that is worth more than the value of the debt. It’s also known as positive or favourable leveraging. People who take out unsecured loans are leveraging unfavourably when the debt is driven by consumption. Often there’s nothing to show for what you’ve spent. Unsecured loans also tend to charge higher interest rates to compensate for the lack of collateral. Only financially reckless people are in debt. This is the next misconception. Second to unsecured loans, most South African consumer debt portfolios are taken up by <a href="https://businesstech.co.za/news/wealth/617685/these-income-levels-in-south-africa-owe-the-most-debt/">home loans</a>. The most realistic way to gain entry into the housing market is through a mortgage. You’re doing the right thing if your mortgage is paid off within a reasonable time. This will mean that, in the long term, the value of the property will surpass the home loan amount that was taken out to buy the property in the first place. But there are two misconceptions related specifically to mortgages. After you’ve paid the mortgage deposit, you won’t have other fees to pay. This isn’t correct. Banks charge a fee to open and close a home loan account. There can also be a penalty when a home loan is repaid prematurely. So be sure to read the fine print about discharge fees or closing costs. If you stick to the repayment amount for your mortgage, you’ll be able to repay the loan quickly. This isn’t true – even if interest rates fall and your mortgage repayments decline, your home loan is most likely tied to a loan term of 20 to 30 years. Many banks will quote a monthly mortgage repayment amount that seems affordable at face value but is in fact based on a 20-year term period. Banks are businesses and it works in their favour if you take longer to repay your mortgage because that translates into more interest repayments. The longer the duration of the home loan, the more interest you pay, the more profit they make. If it takes over 20 years to repay a bond, it’s often the case that the value of the interest repayments exceeds the initial loan amount. Home loan calculators are a useful tool that can help you assess how much you could afford to repay on a home loan depending on the deposit saved, if interest rates change and how long it will take you to repay the mortgage with topped-up contributions. It is essential to have a goal for when you’d like to finish paying off your mortgage and a plan in place to achieve this goal. If you don’t do this you could become a mortgage prisoner. <h2>Keeping your eye on the prize</h2> As we’re about to conclude the year and enter the festive season, it’s a good time to remember your financial goals and not let your guard down by unconsciously swiping or tapping that credit card. “Janu-worry” is around the corner, and so is the financial anxiety that comes with it. But it need not be the case. Debt can either be the cure or the cause of your financial position. Reconsider spending patterns that prompt you to use your credit card. Too much debt over short periods is an irregular spending pattern that is a warning sign. There’s no harm in buying what you can afford or staying in your financial lane if the alternative forces you to sacrifice your hard-earned income on servicing consumption-driven debt. For better or worse, debt is a part of our financial portfolios. But the road to financial empowerment is not always easy – financial planning can help you keep your eye on the prize.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/192630/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/bomikazi-zeka-680577">Bomikazi Zeka</a>, Assistant Professor in Finance and Financial Planning, <a href="https://theconversation.com/institutions/university-of-canberra-865">University of Canberra</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/borrowing-money-isnt-always-a-bad-thing-debt-can-be-a-sensible-way-to-build-wealth-192630">original article</a>.

Money & Banking

Former pilot shares tips for fighting jet lag

A former pilot has shared his fool-proof tips for beating jet lag when you’re flying to the other side of the world. As an ex-airline pilot, Jeremy Burfoot knows a thing or two about dealing with dreaded jet lag. After his years flying Qantas planes to every corner of the globe, Captain Burfoot has revealed to <a href="https://travel.nine.com.au/latest/how-to-beat-jet-lag-ex-airline-pilot-shares-hack-for-flights-to-europe/656b0602-9cd2-4923-b3b4-1310a2613235">9Travel</a> the unique way he would combat the condition while he was working. "I used to try and stay in a time zone of where I was living," he told 9Travel. "So I went to London, I would just sleep during the day and go out at night." However, for those who need to be up during usual hours, he advised trying to avoid one thing. "The first day you get there, spend all day in the sun, in the daylight," he says. "Resist having an afternoon nap so you're really tired when you go to bed." Captain Burfoot went on to share his hacks for anyone flying from Australia or New Zealand to Europe, which can be some of the most gruelling flight paths in the world. "If I was planning to go to Europe, I would try to split it into two, try to fly both of the days in the daylight," he said. "You'd want to be on a flight to Singapore out of Australia that leaves in the morning, so you're basically doing a daylight flight to Singapore, then you have an overnight, eat some curry or something.” "And the next day catch a daylight flight to Europe. So it doesn't actually feel like you're up in the middle of the night." Image credits: Captain Jeremy Burfoot

Travel Tips

Baggage handler reveals the best kind of luggage to travel with

A baggage handler has revealed the best kind of suitcase you should travel with when travelling by plane. With years of experience loading planes with thousands of kinds of suitcases, a ramp agent for American Airlines has spilled the secrets on why some kinds of luggage are better than others. The worker said that while many people may gravitate towards hard-shell suitcases for extra protection, they are not the best for air travel. "Avoid plastic hard shell suitcases," the airline worker revealed on Reddit. "These are incredibly slick and prone to sliding off the bag cart while turning - taking everything on top of it with it." Instead, cloth suitcases have more friction and are "more likely to stay where we put them." He also said these days, four wheels on a suitcase is an absolute must as opposed to ones that glide on just two wheels. "If your bag has four wheels, it can simply be rolled along the floor. If it does not, it will be thrown. We don't try to slam it into anything, but it's still going to drop about 2ft (6m) over the course of its 'flight'," the crew member shared. Another thing to consider when buying your next suitcase is finding one that has handles on the side as it gives baggage handlers "far more control" over the luggage. "It's easier to get a grip with an actual handle than by grabbing a wheel," he added. The worker also said using a big bag for no reason is only going to cause the bag to collapse once it is stacked and cause a "baggage avalanche", with the same going for bags that are not "normally shaped" suitcases. Image credits: Shutterstock

Travel Tips

Readers response: What’s your top travel tip for staying comfortable on long journeys?

When it comes to a long travel day, getting comfortable can often be a mammoth task. We asked our readers to share their favourite tips and tricks to stay comfy on a long haul flight, car ride or train journey, and the response was overwhelming. Here's what they said. Amy Cardino - Long-haul journeys (to me longer than 8hrs), you need to save up or upgrade your ticket if you have mileage benefits, into business class. Ester Cibasek - My own blowup pillow and blanket (long enough to cover my head), noise reducing ear phones and keep my eyes closed so I dose in and out of sleep all the way. Valerie Keily - A neck pillow is essential and an eye shade. Keep hydrated and remember to move around if possible. Di Richardson - Memory neck pillow. Recovery sleeves on my calves. One departure drink then limit alcohol or coffee. Window seat and sleep when possible. Bliss. Anita Thornton - Go business class. Chrissie Martini - Break the journey by staying overnight in a hotel. Takes longer to get there but you practically eliminate jet lag and the worry of DVTs. On the way to Europe, two overnight stops helps me. Lyn Goodman - Keep warm and wear loose fitting clothes. June Debono - Stretch jeans and socks (as well as other clothes of course). Plus, eye shade and ear plugs. Ingrid Plueckhahn - Take a good book, break up the journey with a fave movie, and just get in the zone and relax. It’s just a day! Image credits: Shutterstock

Travel Tips

The financial reality check after a major diagnosis

Once you have received and processed your doctor’s diagnosis, take stock of the situation, because this will determine how you respond and what resources you have available to support you going forward. Who received the diagnosis – you or your spouse (if you have one)? Is it a terminal illness, chronic condition or treatable setback? If you are not yet retired, will you be able to keep working, need a period off work or will this bring forward your retirement? If leaving work temporarily, what are your prospects for re-entering the workforce? Will your partner need to leave their work to care for you (or vice versa)? Once you have clarified and considered this, spring into action as soon as possible. Revisit your spending Healthcare is expensive by any measure. Pensioners and healthcare card holders may get much or all of your treatment covered, but waiting times in the public system can be lengthy. For self-funded retirees, even with private health insurance, there can be considerable out-of-pocket costs: specialist visits, diagnostics, symptom management, physiotherapy and so on. Depending on the type of diagnosis, you may also need to modify your home (install ramps, railings etc.) and/or obtain specialist furniture and equipment. Then comes care requirements – private nurses, retirement living, hospice or palliative care. Your lifestyle may also change, and quickly. Your clothes and shoes may no longer fit if you lose weight rapidly. You may no longer be able to drive. You may need help with household chores – cleaning, cooking, gardening. Covering these requires money if you don’t have family and friends able to lend a helping hand. Carefully look at what supports your new reality demands and whether they will be one-off or ongoing expenses. Some things will need to be purchased, others could be hired to split the cost over the longer term. Secure your income Once you’ve established the impact on your ability to work and your spending needs, determine how you will pay for everything going forward. Your emergency fund can provide short-term cash if you need to stop working suddenly or fork out for large, unexpected bills. Depending on your age and circumstances, it may be worth bringing forward your retirement – allowing you to draw income from superannuation and focus more on your (or your partner’s) health. Check your insurances to see what claims you could make – having paid the premiums, now is the time make use of them. Relevant insurances include total permanent disability, income protection, trauma or critical illness cover. Meanwhile some life insurance policies may pay out based on a specialist’s diagnosis, unlocking much-needed funds sooner. Depending on your diagnosis, policy and the type of insurance, payouts may be a lump sum or smaller payments spaced out over time. Update your estate plans A major diagnosis typically elicits thoughts about mortality, legacy and how you want your loved ones to be provided for. Crucially, it may also influence factors such as guardianship of minors and pets while you are unwell/in hospital, Power of Attorney to cover important legal and financial decisions if you are incapacitated, and palliative care arrangements if required. Before heavy medications, surgeries or further deterioration of your health cloud your judgement, ensure your will and estate plans are updated to fully reflect your current needs and wishes. Look after yourself Stress, shock, anger and despair are common emotions to feel when faced with a major diagnosis. As such, it’s important you look after your mental and emotional wellbeing too. It needn’t cost a cent – you could look to free counselling services available such as Lifeline and Beyond Blue; a daily walk by the beach or through the local park; catching up with loved ones for support and companionship. Keeping your spirits up, as much as you can under the circumstances, can improve your quality of life while also helping you make clearer decisions about your health, finances and relationships – making it arguably the best investment of all. Back that up with sound legal, tax and financial advice. There is much to consider where insurance, superannuation, inheritances, Centrelink and more are involved, and you can’t know everything – especially when your focus is rightly elsewhere! Helen Baker is a licensed Australian financial adviser and author of On Your Own Two Feet: The Essential Guide to Financial Independence for all Women. Helen is among the 1% of financial planners who hold a master’s degree in the field. Proceeds from book sales are donated to charities supporting disadvantaged women and children. Find out more at <a href="http://www.onyourowntwofeet.com.au/">www.onyourowntwofeet.com.au</a> Disclaimer: The information in this article is of a general nature only and does not constitute personal financial or product advice. Any opinions or views expressed are those of the authors and do not represent those of people, institutions or organisations the owner may be associated with in a professional or personal capacity unless explicitly stated. Helen Baker is an authorised representative of BPW Partners Pty Ltd AFSL 548754. Image credits: Shutterstock

Money & Banking

Readers response: What’s your favourite destination you’ve visited later in life and why?

When it comes to travelling, some destinations are better than others for different points in your life. We asked our readers what their favourite destination they've ever visited later in life is, and the response was overwhelming. Here's what they said. Robin Liersch - Africa! Not about the big cities but the animals, landscape and people are lovely. Nature at its best. Karen Ambrose - Sri Lanka. A fabulous tour. Sandra Way - Switzerland, such a beautiful country. Deb Moore - Scotland! The highlands. Because of my ancestry, now that I have been there I feel so very drawn back. Wendy Beckhouse - Cambodia, Angkor Wat is amazing. Beautiful people and great food. Patricia Monro - Singapore. A beautiful safe country with spectacular scenery everywhere. Our family lived there for a couple of years so our visits were perfect. Simply love Singapore. Christina Hutchings - Norway. Especially Geirangar. The people and places were fantastic. Would love to go back. Barbara Mules - Uzbekistan, not at all what I expected. So many beautiful old buildings, good food and lovely people. Elizabeth Jeffreys - Italy. Love the country, people and food. Helen Dickenson - Antarctica, the Parthenon and Machu Picchu because I never thought I could physically do it but I’m glad I managed it. Regina Johnson - South Island, New Zealand. Spectacular. Ian J Wilson - Japan, without a doubt. Val Goodwin - Croatia, wonderful place and people. Image credits: Shutterstock

Travel Tips

Are older adults more vulnerable to scams? What psychologists have learned about who’s most susceptible, and when

<a href="https://theconversation.com/profiles/natalie-c-ebner-1527554">Natalie C. Ebner</a>, <a href="https://theconversation.com/institutions/university-of-florida-1392">University of Florida</a> and <a href="https://theconversation.com/profiles/didem-pehlivanoglu-1527551">Didem Pehlivanoglu</a>, <a href="https://theconversation.com/institutions/university-of-florida-1392">University of Florida</a> About 1 in 6 Americans <a href="https://www.census.gov/library/stories/2023/05/2020-census-united-states-older-population-grew.html">are age 65 or older</a>, and that percentage <a href="https://www.ncoa.org/article/get-the-facts-on-older-americans">is projected to grow</a>. Older adults often hold positions of power, have retirement savings accumulated over the course of their lifetimes, and make important financial and health-related decisions – all of which makes them attractive targets for financial exploitation. In 2021, there were more than 90,000 older victims of fraud, according to the FBI. These cases resulted in <a href="https://www.ic3.gov/Media/PDF/AnnualReport/2021_IC3ElderFraudReport.pdf">US$1.7 billion in losses</a>, a 74% increase compared with 2020. Even so, that may be a significant undercount, since embarrassment or lack of awareness <a href="https://assets.aarp.org/rgcenter/econ/fraud-victims-11.pdf">keeps some victims from reporting</a>. <a href="https://ncea.acl.gov/elder-abuse#gsc.tab=0">Financial exploitation</a> represents one of the most common forms of elder abuse. Perpetrators are often individuals in the victims’ inner social circles – family members, caregivers or friends – but can also be strangers. When older adults experience financial fraud, they typically <a href="https://public.tableau.com/app/profile/federal.trade.commission/viz/AgeandFraud/Infographic">lose more money</a> than younger victims. Those losses can have <a href="https://doi.org/10.1057/sj.2012.11">devastating consequences</a>, especially since older adults have limited time to recoup – dramatically reducing their independence, health and well-being. But older adults have been largely neglected in research on this burgeoning type of crime. We are <a href="https://ebnerlab.psych.ufl.edu/natalie-c-ebner-phd/">psychologists who study social cognition</a> and <a href="https://ebnerlab.psych.ufl.edu/didem-pehlivanoglu/">decision-making</a>, and <a href="https://ebnerlab.psych.ufl.edu/">our research lab</a> at the University of Florida is aimed at understanding the factors that shape vulnerability to deception in adulthood and aging. <h2>Defining vulnerability</h2> Financial exploitation involves a variety of exploitative tactics, such as coercion, manipulation, undue influence and, frequently, some sort of deception. The majority of current research focuses on <a href="https://doi.org/10.1002/acp.3052">people’s ability to distinguish between truth and lies</a> during interpersonal communication. However, deception occurs in many contexts – increasingly, over the internet. Our lab conducts laboratory experiments and real-world studies to measure susceptibility under various conditions: investment games, lie/truth scenarios, phishing emails, text messages, fake news and deepfakes – fabricated videos or images that are created by artificial intelligence technology. To study how people respond to deception, we use measures like surveys, brain imaging, behavior, eye movement and heart rate. We also collect health-related biomarkers, such as being a carrier of <a href="https://pubmed.ncbi.nlm.nih.gov/8346443/">gene variants</a> that increase risk for Alzheimer’s disease, to identify individuals with particular vulnerability. And <a href="https://doi.org/10.20900/agmr20230007">our work</a> shows that an older adult’s ability to detect deception is not just about their individual characteristics. It also depends on how they are being targeted. <figure class="align-center zoomable"><a href="https://images.theconversation.com/files/593784/original/file-20240513-16-j9zy1i.png?ixlib=rb-4.1.0&q=45&auto=format&w=1000&fit=clip"><img src="https://images.theconversation.com/files/593784/original/file-20240513-16-j9zy1i.png?ixlib=rb-4.1.0&q=45&auto=format&w=754&fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/593784/original/file-20240513-16-j9zy1i.png?ixlib=rb-4.1.0&q=45&auto=format&w=600&h=339&fit=crop&dpr=1 600w, https://images.theconversation.com/files/593784/original/file-20240513-16-j9zy1i.png?ixlib=rb-4.1.0&q=30&auto=format&w=600&h=339&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/593784/original/file-20240513-16-j9zy1i.png?ixlib=rb-4.1.0&q=15&auto=format&w=600&h=339&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/593784/original/file-20240513-16-j9zy1i.png?ixlib=rb-4.1.0&q=45&auto=format&w=754&h=426&fit=crop&dpr=1 754w, https://images.theconversation.com/files/593784/original/file-20240513-16-j9zy1i.png?ixlib=rb-4.1.0&q=30&auto=format&w=754&h=426&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/593784/original/file-20240513-16-j9zy1i.png?ixlib=rb-4.1.0&q=15&auto=format&w=754&h=426&fit=crop&dpr=3 2262w" alt="A figure with two circles and an arrow between them. One circle shows icons that symbolize individual susceptibility to deception -- like a brain, and a walking cane -- while the other has icons of types of deception, like mail or a text message." /></a><figcaption>Vulnerability depends not only on the person, but also the type of fraud being used. Natalie Ebner and Didem Pehlivanoglu</figcaption></figure> <h2>Individual risk factors</h2> Better cognition, social and emotional capacities, and brain health are all associated with less susceptibility to deception. Cognitive functions, such as how quickly our brain processes information and how well we remember it, <a href="https://doi.org/10.1177/1745691619827511">decline with age</a> and impact decision-making. For example, among people around 70 years of age or older, declines in analytical thinking are associated with <a href="https://doi.org/10.1037/xap0000426">reduced ability to detect false news stories</a>. Additionally, low memory function in aging is associated with <a href="https://doi.org/10.1093/geronb/gby036">greater susceptibility to email phishing</a>. Further, according to recent <a href="https://osf.io/preprints/osf/6f2y9">research</a>, this correlation is specifically pronounced among older adults who carry a gene variant that is a genetic risk factor for developing Alzheimer’s disease later in life. Indeed, some research suggests that greater financial exploitability may serve as <a href="https://doi.org/10.1016/j.neubiorev.2022.104773">an early marker</a> of disease-related cognitive decline. Social and emotional influences are also crucial. Negative mood can enhance somebody’s ability to detect lies, while <a href="https://doi.org/10.1037/xap0000426">positive mood in very old</a> age can impair a person’s ability to detect fake news. Lack of support and loneliness exacerbate susceptibility to deception. Social isolation during the COVID-19 pandemic has led to <a href="https://doi.org/10.1093/gerona/glaa077">increased reliance on online platforms</a>, and older adults with lower digital literacy are <a href="https://doi.org/10.1093/geront/gnac188">more vulnerable to fraudulent emails and robocalls</a>. Finally, an individual’s brain and body responses play a critical role in susceptibility to deception. One important factor is <a href="https://doi.org/10.1016/j.tins.2020.10.007">interoceptive awareness</a>: the ability to accurately read our own body’s signals, like a “gut feeling.” This awareness is correlated with <a href="https://doi.org/10.1093/geroni/igad104.3714">better lie detection</a> in older adults. According to <a href="https://doi.org/10.1093/gerona/glx051">a first study</a>, financially exploited older adults had a significantly smaller size of insula – a brain region key to integrating bodily signals with environmental cues – than older adults who had been exposed to the same threat but avoided it. Reduced insula activity is also related to greater difficulty <a href="https://doi.org/10.1073/pnas.1218518109">picking up on cues</a> that make someone appear less trustworthy. <h2>Types of effective fraud</h2> Not all deception is equally effective on everyone. <a href="https://doi.org/10.1145/3336141">Our findings</a> show that email phishing that relies on reciprocation – people’s tendency to repay what another person has provided them – was more effective on older adults. Younger adults, on the other hand, were more likely to fall for phishing emails that employed scarcity: people’s tendency to perceive an opportunity as more valuable if they are told its availability is limited. For example, an email might alert you that a coin collection from the 1950s has become available for a special reduced price if purchased within the next 24 hours. There is also evidence that as we age, we have greater difficulty detecting the “wolf in sheep’s clothing”: someone who appears trustworthy, but is not acting in a trustworthy way. In <a href="https://doi.org/10.1038/s41598-023-50500-x">a card-based gambling game</a>, we found that compared with their younger counterparts, older adults are more likely to select decks presented with trustworthy-looking faces, even though those decks consistently resulted in negative payouts. Even after learning about untrustworthy behavior, older adults showed greater difficulty overcoming their initial impressions. <h2>Reducing vulnerability</h2> Identifying who is especially at risk for financial exploitation in aging is crucial for preventing victimization. We believe interventions should be tailored, instead of a one-size-fits-all approach. For example, perhaps machine learning algorithms could someday determine the most dangerous types of deceptive messages that certain groups encounter – such as in text messages, emails or social media platforms – and provide on-the-spot warnings. Black and Hispanic consumers are <a href="https://www.ftc.gov/system/files/documents/reports/combating-fraud-african-american-latino-communities-ftcs-comprehensive-strategic-plan-federal-trade/160615fraudreport.pdf">more likely to be victimized</a>, so there is also a dire need for interventions that resonate with their communities. Prevention efforts would benefit from taking a holistic approach to help older adults reduce their vulnerability to scams. Training in <a href="https://doi.org/10.1007/s40520-019-01259-7">financial, health</a> and <a href="https://www.nature.com/articles/s41598-022-08437-0.pdf">digital literacy</a> are important, but so are programs to <a href="https://doi.org/10.1186/s12889-021-10363-1">address loneliness</a>. People of all ages need to keep these lessons in mind when interacting with online content or strangers – but not only then. Unfortunately, financial exploitation often comes from individuals close to the victim.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/227991/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/natalie-c-ebner-1527554">Natalie C. Ebner</a>, Professor of Psychology, <a href="https://theconversation.com/institutions/university-of-florida-1392">University of Florida</a> and <a href="https://theconversation.com/profiles/didem-pehlivanoglu-1527551">Didem Pehlivanoglu</a>, Postdoctoral Researcher, Psychology, <a href="https://theconversation.com/institutions/university-of-florida-1392">University of Florida</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/are-older-adults-more-vulnerable-to-scams-what-psychologists-have-learned-about-whos-most-susceptible-and-when-227991">original article</a>.

Money & Banking

Readers response: What’s the best travel advice you’ve ever received?

When planning a holiday, it's not unlikely to receive travel advice from others who have explored the world. We asked our readers to share the best travel advice they have ever received, and the response was overwhelming. Here's what they said. Liz Mendygral - You must have travel insurance. Nancy Rogers - Travel light and clever. Anne Denise Houghton - If you are in a different country and see something you would really like to do, do it then as tomorrow you may miss the opportunity! Deedee Cullum - Get off the beaten tourist track and meet the real people. Karen Ambrose - When crossing the road in busy Vietnam cities, keep walking and the traffic will go around you. DON'T STOP! Fran Cresswell - Pack what you think you will need then take out half of it!! Bill King - Respect the customs of the country you are visiting. Lorraine Kirkwood - Pack a spare set of clothes and Pjs in your cabin luggage. When your suitcases get lost you are ok. Chris Walker - Go while you can. Terry Dolman - Book your flight way ahead. Saves mega $$. Denise Sutherland - Where your passport is concerned NEVER BEHAVE BADLY, save that for your backyard. Image credits: Shutterstock

Travel Tips

Eight simple changes to our neighbourhoods can help us age well

<a href="https://theconversation.com/profiles/jerome-n-rachele-251972">Jerome N Rachele</a>, <a href="https://theconversation.com/institutions/australian-catholic-university-747">Australian Catholic University</a>; <a href="https://theconversation.com/profiles/james-f-sallis-407885">James F Sallis</a>, <a href="https://theconversation.com/institutions/university-of-california-san-diego-1314">University of California, San Diego</a>, and <a href="https://theconversation.com/profiles/venurs-loh-118864">Venurs Loh</a>, <a href="https://theconversation.com/institutions/australian-catholic-university-747">Australian Catholic University</a> Where we live can play a big part in ageing well, largely because of the links between physical activity and wellbeing. <a href="https://www.ahuri.edu.au/__data/assets/pdf_file/0012/2181/AHURI_Final_Report_No214_Downsizing-amongst-older-Australians.pdf">Research shows</a> that two-thirds of Australians prefer to age in place. That is, we want to live independently in our homes for as long as we can. Our neighbourhoods and their design can then improve or hinder our ability to get out of the house and be physically active. The rapid ageing of Australia’s population only adds to the importance of neighbourhood design. In 2016, 15% of Australians were aged 65 or older. That proportion is <a href="https://www.aihw.gov.au/reports-statistics/population-groups/older-people/overview">projected to double</a> by 2056. These trends present several <a href="https://www.aihw.gov.au/reports-statistics/population-groups/older-people/reports">social and economic challenges</a>, particularly for the health sector. Designing neighbourhoods in ways that promote physical activity can help overcome these challenges. <h2>Eight simple steps</h2> The following is a short list of <a href="https://ijbnpa.biomedcentral.com/articles/10.1186/s12966-017-0471-5">evidence-based steps</a> local and state governments can take to assist older people to be physically active. These involve minor but effective changes to neighbourhood design. Improve footpaths: Research indicates that older people have a <a href="https://theconversation.com/why-older-people-get-osteoporosis-and-have-falls-68145">higher risk of falls</a>. Ensuring footpaths are level and crack-free, and free from obstructions, will encourage walking among older people – especially those with a disability. Connected pedestrian networks: Introducing footpaths at the end of no-through-roads and across long street blocks reduces walking distances to destinations. This makes walking a more viable option. Slowing traffic in high-pedestrian areas: Slowing traffic <a href="https://www.heartfoundation.org.au/images/uploads/publications/Safe-Speed-Evidence-Report.pdf">improves safety</a> by reducing the risk of a collision. It also reduces the risk of <a href="https://www.ncbi.nlm.nih.gov/pubmed/28557669">death and serious injury</a> in the event of a collision. Age-friendly street crossings: Installing longer pedestrian crossing light sequences gives older pedestrians <a href="https://academic.oup.com/ageing/article/41/5/690/47318/Most-older-pedestrians-are-unable-to-cross-the">more time to cross</a>, and installing refuge islands means those who walk more slowly can cross the street in two stages. Disabled access at public transport: Although a form of motorised transport, public transport users undertake more incidental physical activity compared with car users. This is because they walk between transit stops and their origins and destinations. Improving disabled access helps make public transport a viable option for more older people. Places to rest: <a href="https://bmcpublichealth.biomedcentral.com/articles/10.1186/1471-2458-13-1054">Providing rest spots</a> such as benches enables older people to break up their walk and rest when needed. Planting trees: Planting trees <a href="http://www.sciencedirect.com/science/article/pii/S0277953614004109?via%3Dihub">creates more pleasant scenery</a> to enjoy on a walk. It also provides shade on hot days. Improving safety: Ensuring that streets are well-lit and reducing graffiti and signs of decay are likely to <a href="https://www.ncbi.nlm.nih.gov/pubmed/24552845">improve perceptions of safety</a> among older people. <h2>Why physical activity matters</h2> Physical function – the ability to undertake everyday activities such as walking, bathing and climbing stairs – often declines as people age. The reason for this is that ageing is often accompanied by a reduction in muscle strength, flexibility and cardiorespiratory reserves. Regular physical activity can <a href="https://www.ncbi.nlm.nih.gov/pubmed/14552936">prevent or slow the decline</a> in physical function, even among those with existing health conditions. Middle-to-older aged adults can reduce their risk of physical function decline <a href="https://ijbnpa.biomedcentral.com/articles/10.1186/1479-5868-7-38">by 30%</a> with regular physical activity (at least 150 minutes per week). This includes recreational physical activity, like walking the dog, or incidental physical activity, such as walking to the shops or to visit friends. By making minor changes as outlined above, the health and longevity of our elderly population can be extended. Such changes will help our elderly age well in place. <a href="https://theconversation.com/profiles/jerome-n-rachele-251972">Jerome N Rachele</a>, Research Fellow in Social Epidemiology, Institute for Health and Ageing, <a href="https://theconversation.com/institutions/australian-catholic-university-747">Australian Catholic University</a>; <a href="https://theconversation.com/profiles/james-f-sallis-407885">James F Sallis</a>, Professorial Fellow, Institute for Health and Ageing, Australian Catholic University, and Emeritus Professor, Department of Family Medicine and Public Health, <a href="https://theconversation.com/institutions/university-of-california-san-diego-1314">University of California, San Diego</a>, and <a href="https://theconversation.com/profiles/venurs-loh-118864">Venurs Loh</a>, PhD Candidate, Institute for Health and Ageing, <a href="https://theconversation.com/institutions/australian-catholic-university-747">Australian Catholic University</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/eight-simple-changes-to-our-neighbourhoods-can-help-us-age-well-83962">original article</a>.

Travel Tips

Expert shares best destinations for solo female travellers

At 63 years old, Christina Ford is a seasoned traveller, with most of her travels being done alone. After exploring dozens of countries with just her own company, Ford has shared her tips on where to go and how to stay safe for other women who are contemplating seeing the world by themselves. When asked for her favourite destinations for solo female travellers, Ford told <a href="https://www.dailymail.co.uk/travel/article-13865159/solo-travel-tips-women-best-countries-italy-canada.html">MailOnline</a> that there are two places she will also recommend. She said, “I am a huge fan of Italy and have travelled there extensively. My favourite solo place is Cinque Terre, five ancient fishing villages connected by sea, train or hiking. It's the perfect combination of healthy living, gorgeous vistas and fabulous food.” Christina also recommends her home country of Canada as “great for solo travellers”, explaining, “If you prefer something more urban, Toronto is a fantastic choice. Often described as New York run by the Swiss, it’s a great food town with safe and clean public transit. As a solo traveller, it’s easy to get a single ticket for a Broadway-style show.” “Canada is generally a safe country filled with friendly people who will gladly point you in the right direction - and probably apologise if you get lost. But part of the fun and growth of travelling is allowing yourself to get lost!” Christina went on to emphasise that “safety is crucial” for solo women travellers, and recommended to always carry a phone charger as “you never know where the day could take you” and sharing your live location with a friend or family member can provide peace of mind. She also always pins her hotel's location on Google Maps and advises “using your common sense” around “sketchy areas”, and also recommends not travelling anywhere without travel insurance. After falling in love with travelling solo, Christina wants to share how valuable travelling alone is, and urges women not to be dissuaded by seeing the world if you don’t have a companion. She said, “There are so many fabulous things about travelling solo. You’re on your own schedule, doing what you want to do. Your time is your own, and you can pivot at any moment.” “And you meet new people. Far more than if you were travelling with someone. Plus, you learn how capable you are. I’ve learned more about myself travelling alone than at almost any other time - it’s amazing discovering what great company you are!” Image credits: Instagram

Travel Tips

The science of happier dogs: 5 tips to help your canine friends live their best life

<a href="https://theconversation.com/profiles/mia-cobb-15211">Mia Cobb</a>, <a href="https://theconversation.com/institutions/the-university-of-melbourne-722">The University of Melbourne</a> When you hear about “science focused on how dogs can live their best lives with us” it sounds like an imaginary job made up by a child. However, the field of <a href="https://www.rnz.co.nz/podcast/ourchangingworld?share=2ec8e0ad-5008-4b2d-ae2e-a288e2a77f50">animal welfare science is real</a> and influential. As our most popular animal companion and coworker, dogs are very deserving of scientific attention. In recent years we’ve learned more about <a href="https://theconversation.com/dogs-can-get-dementia-but-lots-of-walks-may-lower-the-risk-189297">how dogs are similar to people</a>, but also how they are distinctly themselves. We often think about how dogs help us – as companions, <a href="https://theconversation.com/meet-moss-the-detection-dog-helping-tassie-devils-find-love-142909">working as detectors</a>, and keeping us <a href="https://theconversation.com/is-owning-a-dog-good-for-your-health-238888">safe and healthy</a>. Dog-centric science helps us <a href="https://www.frontiersin.org/journals/veterinary-science/articles/10.3389/fvets.2021.666898/full">think about the world from a four-paw perspective</a> and apply this new knowledge so dogs can enjoy a good life. Here are five tips to keep the tails in your life wagging happily. <h2>1. Let dogs sniff</h2> Sniffing <a href="https://www.psychologytoday.com/intl/blog/animal-emotions/201902/allowing-dogs-sniff-helps-them-think-positively">makes dogs happier</a>. We tend to forget they live in a smell-based world because we’re so visual. Often taking the dog for a walk is our daily physical activity but we should remember it could be our dogs’ only time out of the home environment. Letting them have a really good sniff of that tree or post is full of satisfying information for them. It’s their nose’s equivalent of us standing at the top of a mountain and enjoying a rich, colour-soaked, sunset view. <h2>2. Give dogs agency</h2> Agency is a <a href="https://www.frontiersin.org/journals/veterinary-science/articles/10.3389/fvets.2023.1284869/full">hot topic in animal welfare science</a> right now. For people who lived through the frustration of strict lockdowns in the early years of COVID, it’s easy to remember how not being able to go where we wanted, or see who we wanted, when we wanted, impacted our mental health. We’ve now learned that <a href="https://www.frontiersin.org/journals/veterinary-science/articles/10.3389/fvets.2023.1250251/full">giving animals choice and control</a> in their lives is important for their mental wellbeing too. We can help our dogs enjoy better welfare by creating more choices and offering them control to exercise their agency. This might be installing a doggy door so they can go outside or inside when they like. It could be letting them decide which sniffy path to take through your local park. Perhaps it’s choosing which three toys to play with that day from a larger collection that gets rotated around. Maybe it’s putting an old blanket down in a new location where you’ve noticed the sun hits the floor for them to relax on. Providing choices doesn’t have to be complicated or expensive. <h2>3. Recognise all dogs are individuals</h2> People commonly ascribe certain personality traits to certain dog breeds. But just like us, dogs have their own personalities <a href="https://scitechdaily.com/food-vs-toys-scientists-reveal-what-dogs-truly-prefer/">and preferences</a>. Not all dogs are going to like the same things and a new dog we live with may be completely different to the last one. One dog might like to go to the dog park and run around with other dogs at high speed for an hour, while another dog would much rather hang out with you chewing on something in the garden. We can see as much <a href="https://www.science.org/content/article/your-dog-s-breed-doesn-t-determine-its-personality-study-suggests">behavioural variation within breeds as we do between them</a>. Being prepared to meet dogs where they are, as individuals, is important to their welfare. As well as noticing what dogs like to do as individuals, it’s important not to force dogs into situations they don’t enjoy. <a href="https://www.rspca.org.uk/adviceandwelfare/pets/dogs/behaviour/understanding">Pay attention to behaviour</a> that indicates dogs aren’t comfortable, such as looking away, licking their lips or yawning. <h2>4. Respect dogs’ choice to opt out</h2> Even in our homes, we can provide options if our dogs don’t want to share in every activity with us. Having a quiet place that dogs can retreat to is really important in enabling them to opt out if they want to. If you’re watching television loudly, it may be too much for <a href="https://www.psychologytoday.com/au/blog/canine-corner/202407/how-good-is-a-dogs-hearing-compared-to-humans">their sensitive ears</a>. Ensure a door is open to another room so they can retreat. Some dogs might feel overwhelmed when visitors come over; giving them somewhere safe and quiet to go rather than forcing an interaction will help them cope. Dogs can be terrific role models for children when teaching empathy. We can demonstrate consent by letting dogs approach us for pats and depart when they want. Like seeing exotic animals perform in circuses, dressing up dogs for our own entertainment seems to have had its day. If you asked most dogs, they don’t want to wear costumes or be part of your Halloween adventures. <h2>5. Opportunities for off-lead activity – safely.</h2> When dogs are allowed to run off-lead, they use space differently. They tend to explore more widely and go faster than they do when walking with us on-lead. This offers them important and fun physical activity to keep them fit and healthy. <figure><iframe src="https://www.youtube.com/embed/2AchEFiDwA8?wmode=transparent&start=0" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe><figcaption>Demonstrating how dogs walk differently when on- and off-lead.</figcaption></figure> A recent exploration of <a href="https://pursuit.unimelb.edu.au/articles/we-checked-if-melbourne-really-is-a-dog-friendly-city">how liveable cities are for dogs</a> mapped all the designated areas for dogs to run off-leash. Doggy density ranged from one dog for every six people to one dog for every 30 people, depending on where you live. It also considered how access to these areas related to the annual registration fees for dogs in each government area compared, with surprising differences noted across greater Melbourne. We noted fees varied between A$37 and $84, and these didn’t relate to how many off-lead areas you could access. For dog-loving nations, such as Australia, helping our canine friends live their best life feels good. <a href="https://www.rnz.co.nz/national/programmes/afternoons/audio/2018957756/our-changing-world-the-science-behind-dog-welfare">Science that comes from a four-paw perspective</a> can help us reconsider our everyday interactions with dogs and influence positive changes so we can live well, together.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/236952/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/mia-cobb-15211">Mia Cobb</a>, Research Fellow, Animal Welfare Science Centre, <a href="https://theconversation.com/institutions/the-university-of-melbourne-722">The University of Melbourne</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/the-science-of-happier-dogs-5-tips-to-help-your-canine-friends-live-their-best-life-236952">original article</a>.

Family & Pets

5 ways to reduce everyday bills

It’s not uncommon to get to the end of the month and be surprised by a figure in your bills. But this surprise needn’t be unpleasant. There is wide a range of simple measures you can employ to reduce your monthly bills without too much effort. Follow these five simple tips and save money. 1. Food and groceries Food can be a problem area in the average Australian’s budget, either because we’re physically eating too much, eating out too much or spending too much money on groceries. But that doesn’t mean you have to transition to a Spartan diet. Here’s how you can save on your grocery bill: <ul> <li>Reduce the amount of times you’re eating out or getting takeout a week</li> <li>Use a shopping list and coupons, pay for groceries (this means you’re less likely to splurge on items that you don’t need) and buy more non-perishable foods to store and save</li> <li>Consider starting a garden and grow your own fruit and veggies</li> </ul> 2. Energy Many people have found their energy bills have been increasingly steady over the past through years, but this doesn’t mean you have to be part of that trend. With a little bit of ingenuity and not a lot of fuss you can make your house energy efficient and enjoy huge power bill savings: <ul> <li>Switch to energy-efficient light bulbs. In many cases these bulbs do cost more than traditional bulbs, but they use much less energy and can last up to 10 times longer</li> <li>Unplug unused electrical devices that are draining electricity</li> <li>Make sure you home is airtight to prevent cold drafts in winter and the loss of cool air in summer. This will also reduce your heating/cooling bills accordingly</li> </ul> 3. Cars As fuel, registration and maintenance costs start to pile up, a car can seem less like a convenience and more like a money pit rolling around on four wheels. That being said, there is a range of ways you can enjoy the access vehicle ownerships provides, without having to pay through your nose: <ul> <li>Underinflated tyres reduces the value of your cars fuel economy significantly, so make sure you take a couple of minutes to check the air pressure and reinflate once a month</li> <li>Consider selling a vehicle if you’re not using it often. Without taking the cost of parking and toll roads into account driving vehicles costs thousands of dollars a year</li> <li>Use more public transport and consider setting up car pools with friends/colleagues</li> </ul> 4. Grooming and beauty Looking and feeling great is important, but it doesn’t necessarily have to be a hugely expensive ordeal. With a little bit of ingenuity, creativity and willingness to not spend $10,000 on that jewel encrusted headdress you can still be the belle/male-belle of the ball without breaking the bank: <ul> <li>Reduce the amount of money you spend on clothing by keeping your eye on sales</li> <li>Consider lower cost alternatives to your favourite beauty products</li> <li>Cut back on the amount of times you have your hair cut and styled</li> </ul> 5. Additional entertainment expenses Your deluxe gym membership might give you access to the power lifting body attack class, but are you really getting the full value for it and the other regular entertainment expenses you’ve signed up for? There are still ways to stay entertained without having to break the bank every week. <ul> <li>Consider cancelling club memberships for places you don’t visit often</li> <li>Investigate free events and inexpensive entertainment ideas like cheap movies Tuesdays</li> <li>Magazine and newspaper subscriptions can also become expensive if you’re not actually reading the papers, as well as pay television services that can be easily eliminated</li> </ul> Image credits: Shutterstock

Money & Banking

No time for a holiday? A ‘workation’ could be the answer

<a href="https://theconversation.com/profiles/mariachiara-barzotto-1449459">Mariachiara Barzotto</a>, <a href="https://theconversation.com/institutions/university-of-bath-1325">University of Bath</a> Imagine this: you’re lounging on the beach, waves crashing in the background. A laptop sits on the table next to your iced coffee. In between meetings, you dip into the ocean or explore a hiking trail. This is the ideal vision of “workations” – a blend of work and vacation that is <a href="https://www.peoplemanagement.co.uk/article/1882649/rise-workation-hr-encourage-blurring-lines-home-away#:%7E:text=Since%20many%20people%20shifted%20to,having%20to%20take%20annual%20leave.">gaining popularity</a> worldwide. A workation allows employees to work remotely from a holiday spot, and is part of a larger shift towards more flexible working arrangements, accelerated by the COVID pandemic and the rise of digital technology. <a href="https://www.tandfonline.com/doi/full/10.1080/16078055.2022.2134199#d1e474">Workations</a> can last from a few days to several weeks. The concept can be appealing to both employees and companies, but there are challenges too. So, understanding its benefits and limitations is important for workers and employers alike. The most obvious benefit for employees is enjoying a new environment while staying productive. The typical work environment can become monotonous, potentially leading to burnout, decreased creativity and dissatisfaction. A workation offers an escape from this day-to-day grind, providing a refreshing change of scenery. It combines the mental break of a vacation with the flexibility of working remotely, allowing workers to balance their professional and personal lives and <a href="https://www.jstage.jst.go.jp/article/abas/20/1/20_0210112a/_pdf">enhance their creativity</a>. This flexibility may be particularly beneficial for those with high workloads or tight schedules, as they no longer need to sacrifice time away from work to relax. And companies can also reap rewards from approving workations among their staff. One of the most significant advantages is employee retention. Flexible work arrangements are among <a href="https://buffer.com/state-of-remote-work/2023">the top priorities</a> for employees in today’s job market, helping to reduce staff turnover. Offering the option of a workation could also make a company more attractive to prospective employees. And workers who are free to work from inspiring locations may return to their tasks less stressed, and more motivated and engaged. Studies show that remote workers often demonstrate <a href="https://journals.sagepub.com/doi/full/10.1177/1529100615593273">increased organisational commitment</a>. Another advantage is the potential for cost savings. With more employees working remotely, companies may reduce their need for large office spaces or the expensive perks offered in corporate environments such as gyms, canteens and the staffing that goes with them. But there can be challenges too. The boundary between work and leisure can become blurred, and some employees may find it <a href="https://tuprints.ulb.tu-darmstadt.de/7578/1/Dissertation_Reinke_Always%20Online%20-%20Boundary%20Management%20and%20Well-being.pdf%20">hard to disconnect from work</a> – defeating the object of travelling to a different workplace. The allure of finishing “just one more task” can prevent employees from truly enjoying their surroundings, potentially leading to exhaustion instead of rejuvenation. Time zone differences can also be a challenge. Juggling meetings and collaborating with colleagues in different time zones can lead to irregular work hours that make it hard to maintain a healthy work-life balance. Distractions are another concern. Beaches, tourist attractions or even the simple novelty of being in a new place can make it difficult to focus on work tasks. Employees need to have a strong sense of discipline to remain productive. For companies, one of the primary challenges is ensuring that employees remain productive. Monitoring performance without feeling intrusive can be a tricky balance for managers to strike. Security is another major concern. Remote work often involves accessing company networks and handling sensitive information. When employees work from unfamiliar locations – particularly in public spaces such as cafes – there may be increased risks related to cybersecurity. Ensuring that employees follow security protocols, use secure wifi and protect sensitive data is crucial. Lastly, workations might not be feasible for all roles. This can lead to disparities in who can take advantage of the opportunity, potentially leading to bad feeling among other staff. For the concept of workations to succeed, both employees and employers should set clear expectations, establish boundaries, and focus on maintaining productivity while allowing time for relaxation. But, if managed properly, they could become a staple of modern work culture. In a world where flexibility and wellbeing are increasingly valued, workations offer a unique opportunity to blend productivity with personal fulfilment, reshaping how we think about work and leisure. <h2>Nine tips for having a successful workation</h2> 1. Choose the right destination Opt for a location with reliable internet access and where the time difference between colleagues and clients is manageable. 2. Set clear boundaries Establish dividing lines between your work and vacation time, and communicate these boundaries with your employer and colleagues. 3. Ensure you have the right tech set-up Bring all the necessary equipment, including noise-cancelling headphones. Double-check that you have remote access to all necessary material before leaving. 4. Plan for cybersecurity Use a secure virtual private network (VPN) to protect company data, and follow your company’s cybersecurity policies to the letter. 5. Understand your company’s remote work policy Read up on things like flexibility in terms of location, time zones, working hours and refunds for co-working spaces or tech tools. 6. Set realistic expectations Don’t expect your workation to feel like a full vacation. Plan your leisure activities around your work schedule. Be prepared to work longer or odd hours if your company operates in a different time zone. 7. Consider the local infrastructure Research amenities such as medical services, food delivery and transport. These might be important if you stay in a more remote or unfamiliar area. Have a contingency plan for health emergencies and check visa requirements. 8. Prepare for flexibility Be ready for unexpected issues like slow internet or disruptions due to local events. Back-up plans, such as access to a co-working space or alternative accommodation, can save you from unnecessary stress. 9. Stay organised Keep a work schedule and a checklist of tasks to ensure that you remain as productive as you are in your regular work environment.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/240485/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/mariachiara-barzotto-1449459">Mariachiara Barzotto</a>, Senior Lecturer in Management Strategy and Organisation, <a href="https://theconversation.com/institutions/university-of-bath-1325">University of Bath</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/no-time-for-a-holiday-a-workation-could-be-the-answer-240485">original article</a>.

Travel Tips

What is bankruptcy?

<a href="https://theconversation.com/profiles/jason-harris-147254">Jason Harris</a>, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a> <blockquote> "Capitalism without insolvency is like Christianity without Hell." </blockquote> Those were the <a href="https://time.com/archive/6882727/the-growing-bankruptcy-brigade/">words</a> of former Apollo 8 commander Frank Borman, speaking as chairman of Eastern Airlines in the United States in the early 1980s. That company later <a href="https://www.airwaysmag.com/legacy-posts/eastern-files-for-chapter-11-bankruptcy">entered</a> Chapter 11 bankruptcy itself, in an attempt to deal with a staggering amount of debt. We all know what it means to run out of money, but what exactly is bankruptcy? It’s certainly been in the news a lot. Tupperware <a href="https://theconversation.com/tupperware-has-filed-for-bankruptcy-is-multi-level-marketing-in-trouble-239387">filed</a> for it last month. Two Australian airlines have <a href="https://theconversation.com/what-is-slot-hoarding-and-is-it-locking-out-regional-airlines-like-rex-235960">become insolvent</a> this year, and other Australian businesses have been going under at <a href="https://www.abc.net.au/news/2024-04-17/business-insolvencies-hit-record-highs-creditorwatch/103732960">record rates</a>. So how do companies go bankrupt – and what is bankruptcy protection under the law? What’s the famous Chapter 11? And is bankruptcy the end of the road? <h2>What exactly is bankruptcy?</h2> Sometimes, a person or company can’t pay all of their debts as they arise. In legal terms, we call this being “insolvent”. Receiving a large bill (such as a large tax bill) that you can’t pay on the day doesn’t necessarily make you insolvent. The law allows for a reasonable time to pay bills after receiving an invoice. But if large numbers of bills remain unpaid weeks or months after their due dates, it begins to suggest a person or business isn’t paying them because they actually can’t. Being unable to pay all of your debts makes you an insolvent debtor. Bankruptcy is the legal process that allows insolvent debtors to fairly resolve these debts. In Australia, insolvent individuals can file a bankruptcy petition with the <a href="https://www.afsa.gov.au/about-us/who-we-are">Official Receiver</a> in bankruptcy, a statutory office that is part of the Australian Financial Security Authority. A creditor who is owed at least $10,000 can also force another person into bankruptcy, by suing them in court and obtaining an order to make them bankrupt. For companies that can’t pay their debts, there are several options, including liquidation, voluntary administration and restructuring. More on these later. <h2>We let an expert take control</h2> When a person or company goes bankrupt, an independent external expert (or team of experts) is appointed to manage their assets and debt. For individuals, we call this person a registered bankruptcy trustee. In the case of corporate bankruptcies, we call them a registered liquidator. In both cases, the expert will take control of the debtor’s assets and affairs. They’ll be looking closely at why the debtor needed to declare bankruptcy in the first place, and whether anything can be sold to generate cash so at least some of the debt can be repaid. When a person goes bankrupt, not everything is up for grabs. The law allows them to <a href="https://www.afsa.gov.au/professionals/resource-hub/indexed-amounts#protected-property">retain</a> some basic essentials, such as clothes, furniture, tools of their trade, and a car valued at less than $9,400. Some categories of assets can also be exempt, such as superannuation and compensation for personal injuries. There are no similar extensions for corporate insolvency. All of a company’s assets are on the table. However, both types of debtor typically enter bankruptcy with few or no assets. In more than 80% of <a href="https://www.afsa.gov.au/sites/default/files/2023-12/ror_bankruptcies.xlsx">individual</a> and <a href="https://asic.gov.au/regulatory-resources/find-a-document/statistics/insolvency-statistics/insolvency-statistics-series-3-external-administrator-reports/#3.3">corporate</a> bankruptcy cases, there are no payments to the creditors they owe. <h2>Why seek bankruptcy protection?</h2> One key feature of formally filing for bankruptcy is that it imposes a “stay” on enforcement action against the debtor. This is a court order that gives the party owing money time to organise its affairs in an orderly way – such as by selling assets to raise cash. In corporate insolvency, there are formal procedures under Australia’s Corporations Act that aim to give a company the opportunity to negotiate a deal with its creditors. That might include formulating a plan to restructure, allowing it to exit insolvency and keep trading. But it could also include selling the business to a new owner so it can continue. Some large Australian companies, including <a href="https://newsroom.virginaustralia.com/release/virgin-australia-enters-voluntary-administration">Virgin Australia</a> and <a href="https://www.smh.com.au/business/companies/network-ten-heads-into-voluntary-administration-20170614-gwqo47.html">Channel Ten</a>, have previously used “voluntary administration” to save their businesses. Voluntary administration can give a company a chance to reduce its debts through a statutory compromise with creditors called a “deed of company arrangement”. This involves the majority of a company’s creditors approving a deal – usually, to compromise on some of their debt in exchange for a promise of future payments. The funds to make these payments might come from selling assets, or be a percentage of promised future profits. If successful, this can allow a company to keep operating and minimise job losses that would otherwise occur if it were simply shut down and its assets sold off – known as being “liquidated”. Once liquidated, a company will be deregistered by the Australian Securities and Investments Commission – that is, it will cease to exist as a separate company. <h2>What is Chapter 11 bankruptcy?</h2> You’ll often hear or read about companies filing for “Chapter 11” bankruptcy. This is because in the US, there is one law – the Bankruptcy Code 1978 – that covers both individuals and companies. Just like we’ve discussed in the Australian context, Chapter 11 of that law is specifically aimed at giving debtor companies a chance to enter into a deal with their creditors – to reduce their debts, sell some or all of the assets and hopefully allow at least part of the business to continue operating. This is what Tupperware did last month, following years of financial pressure. Where the law differs between Australia and the US is in the fact that Chapter 11 allows the debtor company’s management to remain in charge of the bankruptcy process. We call this “debtor-in-possession”. In Australia, in contrast, the liquidator – which acts as the administrator in a voluntary administration – remains in control of the company. Filing for bankruptcy can signal the end of a company’s operations, but not always. It may be possible for an external administrator to try to save the business or sell some or all of it to a new owner, paying down debt and preserving jobs. <hr /> This article is part of The Conversation’s “<a href="https://theconversation.com/au/topics/business-basics-157462">Business Basics</a>” series where we ask experts to discuss key concepts in business, economics and finance.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/239393/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/jason-harris-147254">Jason Harris</a>, Professor of Corporate Law, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/what-is-bankruptcy-239393">original article</a>.

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